Marriott Harrison advises World Chess Plc on it’s listing on the main market of the London Stock Exchange

Monday 17th April, 2023

Marriott Harrison is pleased to have acted for World Chess Plc as it listed on the Main Market of the London Stock Exchange. World Chess Plc develops and markets an online chess platform reinventing chess for the modern consumer, including the organisation of top-level tournaments and other sports, lifestyle, social activities and merchandise related to chess.

World Chess Plc has raised gross proceeds of £3.04 million, through the placing and subscription of 666,905,501 ordinary shares at 6.25 pence per share. On admission, the company will have a market capitalisation of approximately £41.7 million.

The new funds raised will be used to bolster the Company’s growth strategy, including the further evolution of the World Chess online playing platform and marketing initiatives.

Ilya Merenzon, CEO of World Chess, commented, “The completion of our IPO comes at an exciting time for chess. The number of players and spectators of the sport is growing and with this new commercial opportunities are opening up. Using our public profile and position as a public company, we are well-placed to capitalise on these opportunities and grow World Chess.”

Advisers to the Company included Novum Securities and PKF Littlejohn, whilst the offer of new Ordinary Shares to retail investors was supported by the PrimaryBid platform.

Simon Charles led the MH team alongside James Fleming.

Articles by Simon Charles